ALIGN TECHNOLOGY Reports Second Quarter Earnings Results for FY2023

🌥️Earnings Overview

On July 26, 2023, ALIGN TECHNOLOGY ($NASDAQ:ALGN) reported their earnings results for the second quarter of FY2023. Total revenue increased by 3.4% to USD 1002.2 million compared to the same period in the prior year, however, net income decreased by 0.9% to USD 111.8 million.

Market Price

The stock opened at $329.6 and closed at $339.8, up by 2.3% from prior closing price of 332.1. These strong financial results demonstrate the company’s success in navigating the challenging economic environment. With these impressive results, ALIGN TECHNOLOGY is well-positioned to grow and succeed in the future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Align Technology. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Align Technology. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Align Technology. More…

Key Ratios Snapshot

Some of the financial key ratios for Align Technology are shown below. More…

Analysis

At GoodWhale, we have conducted an analysis of ALIGN TECHNOLOGY‘s health and based on our Risk Rating, it is a low risk investment in terms of financial and business aspects. However, upon further inspection, we have detected two risk warnings in their income sheet and balance sheet. We recommend investors to register on goodwhale.com to check it out before making any decision. With our comprehensive report, investors can gain a deep understanding of the company’s risk ratings, allowing them to make wise investment decisions. More…

Peers

Headquartered in San Jose, California, Align Technology was founded in 1997 and received FDA clearance for Invisalign in 1998. Align Technology went public in 2001 and today has a market capitalization of over $13 billion. The company’s competitors include QT Vascular Ltd, ViewRay Inc, and GN Store Nord A/S.

– QT Vascular Ltd ($SGX:5I0)

Ray Inc is a publicly traded company that engages in the business of providing technology solutions. Its solutions include software development, web design, and online marketing. The company’s primary focus is on small businesses. Ray Inc has a market cap of 704.13M as of 2022 and a Return on Equity of -75.17%. Ray Inc’s market cap is 704.13M, which means it has a market value of 704.13M. Ray Inc’s ROE of -75.17% means that it has a negative net income. This is likely due to the company’s expenses exceeding its revenue.

– ViewRay Inc ($NASDAQ:VRAY)

A.P. Moller – Maersk is an integrated logistics company. It operates in areas including container shipping and terminals, oil and gas, shipping and logistics, and other activities. The company has a market cap of 19.32B as of March 2021 and a return on equity of 13.56%. A.P. Moller – Maersk operates in more than 130 countries and employs around 89,000 people. The company was founded in 1904 and is headquartered in Copenhagen, Denmark.

Summary

Investing in ALIGN TECHNOLOGY is a complicated decision. The company reported total revenue of USD 1002.2 million for the second quarter of FY2023, which was a 3.4% growth from the same period a year prior.

However, net income decreased by 0.9% to USD 111.8 million. Investors need to consider both the short-term as well as the long-term outlook of the company before investing. They should also consider the company’s competitive position and potential risks associated with investing in the company.